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Krugman isn't being a political partisan hack here. Every mainstream economist from the Republican and Democratic administrations agree that a currency backed s
by penny500 13y ago
Krugman isn't being a political partisan hack here. Every mainstream economist from the Republican and Democratic administrations agree that a currency backed similarly to gold (as opposed to a central bank) is not a good idea.
- think33 13y agoProve it. Also, using the word "mainstream" is equivocation, you'll just say anyone who doesn't agree with this position isn't "mainstream". Further, in support of your claim that he's not being partisan, you name a partisan spectrum of "economists". Both democrats and republicans are partisans.
- smokeyj 13y agoCentral planners like central banking? Get out.
- penny500 13y agoMainstream economists aren't central planners. I don't mean just economists from both administrations. I meant mainstream economists from every school on the US News and beyond.
- bcoates 13y agoBut Krugman isn't complaining about Bitcoin's monetary policy here; he's complaining about the operation of the network itself. It's a pretty weak argument; he's claiming that the network costs too much without doing any kind of serious cost-benefit analysis, just an inapt comparison to gold coins.
- smokeyj 13y agoWhen the entire mainstream media portrays a complex and controversial issue as entirely one sided, this gives you confidence?
- penny500 13y ago"mainstream media" != "mainstream economists" I'd prefer the opinions of PhD economists with a special emphasis on currency transactions over yours or anyone else's, actually.
- smokeyj 13y agoEconomists who don't agree with Keynes aren't credible because they're not the majority? I prefer science over mob mentality.
- penny500 13y agoAre you serious? Just because you're not Keynesian, it doesn't mean you do not believe in a central bank. Milton Friedman believed in a central bank.